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Dec 28, 2012
12/12
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david: taxes on dividends could be rising. chairman of southern company who owns a bunch of utility companies, why that could spell trouble for more than just investors. >> liz joins us telling us which big companies will be first to take a costly fall if we, in fact, do go off that cliff. ♪ [ indiinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain b b. ♪ all onhinkorswim from td ameritrade. ♪ hi hi ♪(whistling tune) ♪("don't worry be happy") shy david: it was wild in the pits at the cme was closing in chicago. sandy smith is there. what's going on, sandy? >> this is the stuff you don't see in a trade desk in the office or at home. the trade action picked up in the final minutes here. the s&p500 index of 500 stocks we watch every day closed at the top of the hour, at 14 # 0 # 2, hung on to the 1400 level. the futures, the pit i'm in, contin
david: taxes on dividends could be rising. chairman of southern company who owns a bunch of utility companies, why that could spell trouble for more than just investors. >> liz joins us telling us which big companies will be first to take a costly fall if we, in fact, do go off that cliff. ♪ [ indiinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting,...
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Dec 30, 2012
12/12
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and they are taxed again at the individual level. with the dividend and capital gains taxes. george bush, to his credit, tried to do something about that and he chopped the dividend and capital gains tax down to 15%. the effect of that was to reduce the incentive for corporations to take on too much debt. if you tax equity too much, corporations take on too much debt. then it's more likely that they become bankrupt and to destabilize the whole system. gerri: you talk little bit about competitiveness. let's detail that. low capital gains is important to our nation's competitiveness. but also, to the competitiveness of these companies that we are talking about. >> absolutely. let's say that you are a young indian or chinese entrepreneur with a science degree or engineering degree and you gradua from mit. you want to start a high-tech company. would you started in the united states, where you're getting from your company years down the road will be taxed at 30%, or would you started in china or india where the capital gains tax rate is zero? many of our major partners have zero
and they are taxed again at the individual level. with the dividend and capital gains taxes. george bush, to his credit, tried to do something about that and he chopped the dividend and capital gains tax down to 15%. the effect of that was to reduce the incentive for corporations to take on too much debt. if you tax equity too much, corporations take on too much debt. then it's more likely that they become bankrupt and to destabilize the whole system. gerri: you talk little bit about...
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Dec 31, 2012
12/12
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a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work on entitlement and spending reform and broader tax reform package. but all those specific details when you talk about entitlements and spending on the bigger side. $3-4 trillion deal that would have to be filled in over the next year. >> all right. rich, we appreciate it. just a reminder, 5:00 a.m., cheryl casone will have the latest on overseas trading but also any potential deal or leak that has a deal may be in the works. find out right here on the fox big network. fox business network team starting here at 5:00 a.m. here in new york city. that wraps it right now. we're going to go back to our programming. we are talking cometely off-the-cuff, but we know will not be at 250. i think carrie reed has problems from new york like dianne feinstein of california, and 250 will be a big pill to allow. this is a fiscal cliff that we can have 50 days, 60 days down the road. it does not fix the problem if y
a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work on entitlement and spending reform and broader tax reform package. but all those specific details when you talk about entitlements and spending on the bigger side. $3-4 trillion deal that would have to be filled in over the next year. >> all right. rich, we appreciate it. just a reminder, 5:00 a.m.,...
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let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending in the federal budget. you will notice to these numbers bigger than that. not good. the deficit, like how much debt or adding. over a trillion. just when you're. federal government runnng a a tab of a rillion. we talk about this number of the me. let's get this zero's again. a very big number. tough to get your arms around these numbers. when you see it on a piece of paper it's easier. i thought it would be even easier ifwe thought about one american household. what if each of those numbers translate it into one family. if you ran the household like the federal government here is what you would be looking at. your family income, 24400. your spending, 305,400. look at this. what's going on? you can't do this. if you were spending 35,000 only had 24,000 coming in, that's a nightmare. the new debt would be 10,900. it's a nightmare. so let's talk about yo
let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending in the federal budget. you will notice to these numbers bigger than that. not good. the deficit, like how much debt or adding. over a trillion. just when you're. federal government runnng a a tab of a rillion. we talk about this number of the me. let's get this zero's again. a very big number....
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Jan 31, 2013
01/13
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to try to bring in other companies by giving them tax breaks, et cetera. what about a company like lockheed though? which is, while boeing has 50% of its contracts defense contracts, lockheed has almost all of them defense contracts. they have got to take a hit from this? >> oh, they absolutely will. but the buffer that they have is the backlog of orders that they already have in the pipeline. money that is already been obligated by the department of defense, when they have written a contract, signed it, and obligated that money for to buy something, that's not going to be affected by sequestration or the budget drawdown we're talking about. so lockheed will continue to be able to work through that backlog and build the systems that have already been contracted by dod. david: finally we have to focus on this one point. you say this quarter will be worse than the last quarter in terms of defense cuts and that affect on the gdp, right? >> right. so we'll see continued drawdown because of the withdrawal from afghanistan. on top of that, dod has come out with
to try to bring in other companies by giving them tax breaks, et cetera. what about a company like lockheed though? which is, while boeing has 50% of its contracts defense contracts, lockheed has almost all of them defense contracts. they have got to take a hit from this? >> oh, they absolutely will. but the buffer that they have is the backlog of orders that they already have in the pipeline. money that is already been obligated by the department of defense, when they have written a...
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Dec 10, 2013
12/13
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the last thing they want to do is think about taxes and tax planning. but you're going to want to hear about this. we are here to help you get ready with a users guide to taxes on your ultimate guide to year-end tax moves. today we are going to tell you moves you could make. dominic, it's great to have you here. before we get into good solutions, let's talk briefly about big changes coming. >> yes, people are going to be surprised. a lot of ancillary taxes and all of them are going to hit you hard by april 15 the next year. most people are flying under the radar, they don't know and they're going to be in for a rude awakening. he won a lot of people are running their taxes ahead of time, trying to figure out what this is going to be. and what we are hearing is that more and more people are going to be paying 50% of their income or more in taxes and i means one out of every $2 to the tax man? >> it easily can get into that kind of range. so you have a couple weeks left in the year, a couple of moves and is not enough, think positively and take a little t
the last thing they want to do is think about taxes and tax planning. but you're going to want to hear about this. we are here to help you get ready with a users guide to taxes on your ultimate guide to year-end tax moves. today we are going to tell you moves you could make. dominic, it's great to have you here. before we get into good solutions, let's talk briefly about big changes coming. >> yes, people are going to be surprised. a lot of ancillary taxes and all of them are going to hit...
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taxes have gone up as of midnight, so many are looking at this as a tax cut, which are technically would be. the number of republicans pointing out the lack of spending cuts. $15 billion worth of spending cuts, there is new spending we consider emergency unemployment benefits, long-term unemployment benefits. at least some republicans support the deal or want to see the deal go through. that is the fight they want to have on the debt ceiling and that is how they will get to this, the debt ceiling $200 billion of spending authority left in the extraordinary measures they are going through, so you have to have that next fight. some say you clear the way by getting this off the table and then you have another spending fight, cheryl. cheryl: i guess it depends on which democrats are saying that. we have gotten bits and pieces, and it is funny nancy plosive mentioned that in the press conference, she said are you saying i'm getting information from the media, i will not answer that but the media has been talking to some in the g.o.p. and they are not happy. at what point does house speaker bo
taxes have gone up as of midnight, so many are looking at this as a tax cut, which are technically would be. the number of republicans pointing out the lack of spending cuts. $15 billion worth of spending cuts, there is new spending we consider emergency unemployment benefits, long-term unemployment benefits. at least some republicans support the deal or want to see the deal go through. that is the fight they want to have on the debt ceiling and that is how they will get to this, the debt...
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Dec 30, 2012
12/12
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we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growthof economy and entrepreneurship and high-technology industries. gerri: so what if we compare favorably with a lot of developed countries out there -- what would be the practical effect? >> it will slow the flow of venture capital and investment for high-technology companies. if you think about every major high-tech company like apple or microsoft or ebay or amazon, they were all nurtured by high income people putting money in early on to these startup companies. we dramatically cut the capital gains ta rate from 4
we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just...
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they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do someing? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm ot alone in an environment like this, how are you going to compel businesses, fast food joints and the rest, but it's in there interest to raise the rates when they are barely getting by as it is just as henry ford did back before world war i to $5. he said he wanted people to buy the cards. that's what you got to do. neil: so what about substance of theountry where they have jobs with $10 an hour. were people really aren't jumping on these jobs. where we have a country where help wanted advertising is at an all-time high. a lot of people, for whatever reason, it are having trouble wit
they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do someing? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm ot...
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cuts and tax reductions that congress does at the end of every year anyway. so when congress has a deficit score, as it's called for a particular proposal it assumes that all the tax rates refer to the clinton era tax rates and that millions of americans that normally don't pay the alternative minimum tax would pay the amt and that doctors who treat medicare patients would automatically get a major pay cut beginning at the year. all that is basically spending and tax cuts that congress does at the end of every year anyway. that deficit number, while it is striking, it's basically what the can present to from the congressional budget office assumes congress will do every year. they just can't by law say that will happen because it's not in law. we don't do much long-term was bank. when you said that congresswoman louise slaughter is hoping to get this done before markets over, there will be a vote before markets opened. we may be getting a vote before the end of the day. baboon that's the time we expect the house will vote on this proposal. the senate-passed p
cuts and tax reductions that congress does at the end of every year anyway. so when congress has a deficit score, as it's called for a particular proposal it assumes that all the tax rates refer to the clinton era tax rates and that millions of americans that normally don't pay the alternative minimum tax would pay the amt and that doctors who treat medicare patients would automatically get a major pay cut beginning at the year. all that is basically spending and tax cuts that congress does at...
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>> pay both but then you get what is called a foreign tax credit for your foreign taxes paid. basically the u.s. treasury taxes you on "your world"wide income. however, it does ccedit you for some of the foreign taxes you've paid. adam: would the credit, would the credit, wouldn't that minimize the impact of the increase here in the united states? or is it the other direction and forces investors to seek invests overseas as opposed to here where they pay the higher capital-gains tax rate? >> what is imrtant here we want foreign investors to come to the united states and vest in our growth companies and our high-tech companies. if we have a high capital-gains tax rate it will hit those foreign investors. so we want, investment money flowing into the united states. if we have high tax rates we'll be scaring away that inflow of investment. adam: we certainly saw a lot of people selling off some of their assets at least in equities up until today in order to avoid the higher capital-gains tax. >> oh, that's right. capital gains. thank you very much. adam: we have to wrap it up her
>> pay both but then you get what is called a foreign tax credit for your foreign taxes paid. basically the u.s. treasury taxes you on "your world"wide income. however, it does ccedit you for some of the foreign taxes you've paid. adam: would the credit, would the credit, wouldn't that minimize the impact of the increase here in the united states? or is it the other direction and forces investors to seek invests overseas as opposed to here where they pay the higher capital-gains...
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and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against the contraceptive mandate? >> it is a surprisingri, pringlehey lt be >> a christian-based company, and they think that that is part of their credo, and 10mandment l commandments, the golden rule. the living hearing purchase pilt will kill babies. we are not going to do it. but the circuit court, the appeals court said we are going to hold up that ruling against it. in this particular case, the court says you are right that your religious exercise is something limited. you can still were shut and you say to that you are limited wit. rtgard to obam
and if you don't do that, the taxes are going to go. gerri: all right, we are going to take a break right now. but we will break into programming the minute that anybody goes to the senate if we hear from the vice president. rich edson is covering all this for us on capitol hill. the fox business team is in place here on sixth avenue. two hours left from the fiscal cliff. the revelers are ready to party, and we are here for you all night. back to the programming totion e that injunction against...
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Nov 10, 2012
11/12
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neil: if all he talked about was closing loopholes for those who pay little taxes to pay more in taxes, you'd be againstthat? >> well, yes, of course. i don't see any reason to have a net increase tax burden on any income level, especially those that are creating jobs. i'm for reducing tax rates and deductions, keeping that neutral. neil: how many feel like you do, congressman? do you suspect? >> i think the majority do, the more conservative members, but, on the other hand, there's more moderate republicans who are tired of the issuing 4 to throw in the towel. i worry about that. we have to stay firm, not because we're protecting anybody, but simply to protect jobs. neil: would it compromise the speaker's support among republicans? in other words, would you think twice about re-electing him? your speaker? no, i think a lot of john boehner, ad goo man, a good leader, but he does have a lot of people to answer to, a lot of pressure on him, recriminations, and autopsy's being done on why we lost the white house. i think he's a little bit flexing to that, but at the end of the day, before
neil: if all he talked about was closing loopholes for those who pay little taxes to pay more in taxes, you'd be againstthat? >> well, yes, of course. i don't see any reason to have a net increase tax burden on any income level, especially those that are creating jobs. i'm for reducing tax rates and deductions, keeping that neutral. neil: how many feel like you do, congressman? do you suspect? >> i think the majority do, the more conservative members, but, on the other hand, there's...
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Dec 27, 2012
12/12
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and lower tax rates. david: the president will not -- he did say so you, by the way. said so in july of 2011. give us 1.2 trillion in additional revenues which could be accomplished without hiking tax rates and then in september 2011, he came out with his own budget in which he said the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. the president said that just a year ago. >> ideology has trumped that practicality. brief period of practicality he had after the shellacking he took in the 2011, 2010 lech ounce is. now he is back to the old mode. we're all paying a price for it. david: okay. final question, is there any way we grow with a president who will not sign on to anything but higher tax rates for the rich? >> at best we'll have a stalled or gone 10 miles-an-hour on a super highway. david: you're not investing any of your money. >> i'm long term. i'm not going to try to time this market because when it turns it will be sudd
and lower tax rates. david: the president will not -- he did say so you, by the way. said so in july of 2011. give us 1.2 trillion in additional revenues which could be accomplished without hiking tax rates and then in september 2011, he came out with his own budget in which he said the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. the president said that just a year ago. >> ideology has trumped that...
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this is not technically raising taxes. these are taxes you should be paying anyway. sales tax you should be paying, you just don't. even then they can't get republicans -- >> they should. if we're in a slow economy, idea of jacking up billions of dollars for state and local taxes. melissa: yeah. >> that defeats tax competition in all sorts of ways and forces business to become taxwatchers. melissa:. >> how is that against competition? >> it is saying that everybody is going to be taxed, online businesses and terrestrial businesses. >> that is anti-competitive. >> absolutely. because those, no, no. because bricks and mortar, bricks and mortar build having certain advantages. online companies have different advantages. melissa: hang on. not get off track, get back to the interview for a second. he talked about inimmigration. on the side of that he says he thinks this is fostering a spirit of bipartisanship. do you think there is any bipartisanship going in washington? only because we have gone flying over this cliff. the american public has kind of given up. we lived t
this is not technically raising taxes. these are taxes you should be paying anyway. sales tax you should be paying, you just don't. even then they can't get republicans -- >> they should. if we're in a slow economy, idea of jacking up billions of dollars for state and local taxes. melissa: yeah. >> that defeats tax competition in all sorts of ways and forces business to become taxwatchers. melissa:. >> how is that against competition? >> it is saying that everybody is...
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as we all know, the medical device tax is crushing businesses. eighty senators already want to get rid of it. there are changes that absolutely positively need to be made. neil: but they're not doing it. it's close. now they can't do it, now they're not even entertaining one adjustment for. that is kind of weird. >> listen, you need to people that tango perry gave to sit down a room and hammer things out. the fact that the president is not even negotiating to the democrats are not coming to the table. dog and pony show with the republican showing up and no one across from him. everyone is to start acting like adults. they need to solve the people's business. that is what people send their leaders there do, get together and come up with common-sense solutions. that is with tip o'neill and ronald reagan did. neil: and nell. polls mean nothing, but the sentiment right now is that republicans areetting certainly the shorter end of the pr stick with this. you know, do you think that is a worry and that it is going to affect the midterm elections? will
as we all know, the medical device tax is crushing businesses. eighty senators already want to get rid of it. there are changes that absolutely positively need to be made. neil: but they're not doing it. it's close. now they can't do it, now they're not even entertaining one adjustment for. that is kind of weird. >> listen, you need to people that tango perry gave to sit down a room and hammer things out. the fact that the president is not even negotiating to the democrats are not coming...
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May 30, 2013
05/13
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the rich pay most of the taxes. the lack of eye contact and smart phones, handhelds being blamed for not seeing eye to eye with your family, kids, friends and coworkers. is that okay? tweet us what you think. stocks now. krispy kreme looking sweet. lauren, what is going on? >> they report earnings after the bell today. we will bring you those a look . it makes me hungry. year to date, this stock is up 47%. krispy kreme has a recent history of big surprises affer they report earnings. there has been a beat or a miss on eps by a pretty large margin in seven out of those 11 recent quarters. dagen: i want a dozen hot krispy kreme donuts in one sitting. i did that once in high school. they were delicious. >> i am so jealous. dagen: you should be. thank you for that. lauren simonetti. we have the editorial board member at the wall street journal with us now. >> love to talk about how much the wealthy benefit from tax breaks. they do not like to talk about how this results from the tax system that they prefer. we do have t
the rich pay most of the taxes. the lack of eye contact and smart phones, handhelds being blamed for not seeing eye to eye with your family, kids, friends and coworkers. is that okay? tweet us what you think. stocks now. krispy kreme looking sweet. lauren, what is going on? >> they report earnings after the bell today. we will bring you those a look . it makes me hungry. year to date, this stock is up 47%. krispy kreme has a recent history of big surprises affer they report earnings....
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Dec 11, 2014
12/14
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the tax is increasing. in 2004 it was 300 -- i'm sorry, it was $95 per person or 1% of your family household income, whichever is higher. it's going up to $325 per individual. it's 50% of that for children or 2% of your household income. gerri: this adds up quickly. >> if you make $100,000 in year in your family, you're going to pay $2,000 and have nothing to show for it. gerri: this is coming out of obamacare, very bad news. any other advice for people out there who want to put themselves in the best position possible for health care next year? >> well, i think that there's a few key things to consider, and i would summarize it all by saying go shopping. so, number one, if you bought your health insurance plan through the exchange last year, make sure you don't let it renew on autopilot. here is why. the obama administration made a ruling that to make it easier for consumers, you didn't have to do anything, it would just auto renew. but if you do that, the risk is that your insurance premium will be much h
the tax is increasing. in 2004 it was 300 -- i'm sorry, it was $95 per person or 1% of your family household income, whichever is higher. it's going up to $325 per individual. it's 50% of that for children or 2% of your household income. gerri: this adds up quickly. >> if you make $100,000 in year in your family, you're going to pay $2,000 and have nothing to show for it. gerri: this is coming out of obamacare, very bad news. any other advice for people out there who want to put...
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Nov 28, 2014
11/14
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a president who is really aligned with the so-called -- dave: if you have all republicans going for tax simplification, bringing down the corporate tax rate, repatriation of capital and a few democrats that would be enough to override a presidential veto. >> i hope you are right but that is what the small businesses need. >> when chuck schumer is coming to bat for this. dave: finally a real feel good story. and receive $200,000 donations to the start over from around the country so have the socialists occupy idiots lost and have free enterprise recaptured the hearts and minds of the public? jason, i got to believe they have. people prefer free enterprise to these socialists. >> of course. that is obviously in the dna of america. this is one of my favorite stories, she was actually the bakery owner was asking for $20,000 in donations and she got $220,000 plus. what this speaks to is the american dna is pro free enterprise, perot people using their energy constructively. anytime anybody stands up like this 32-year-old woman starting a business from scratch the get supported and i think we
a president who is really aligned with the so-called -- dave: if you have all republicans going for tax simplification, bringing down the corporate tax rate, repatriation of capital and a few democrats that would be enough to override a presidential veto. >> i hope you are right but that is what the small businesses need. >> when chuck schumer is coming to bat for this. dave: finally a real feel good story. and receive $200,000 donations to the start over from around the country so...
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Dec 13, 2012
12/12
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, small business taxes will go up. you know, i'm very nervous about that. this is a really bad idea to raise taxes on capital gains and dividends. whether it puts us into a double dip, i don't know. but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is being financed by enormous amount of financing. tracy: that's something we have to talk more about. it could be very ugly enough the end of the day, it could be very interesting. all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphon
, small business taxes will go up. you know, i'm very nervous about that. this is a really bad idea to raise taxes on capital gains and dividends. whether it puts us into a double dip, i don't know. but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is...
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Oct 10, 2013
10/13
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reform meaning a new tax system with lower tax rates. on the democratic side they have been quiet up to now because it has been going their way to show their hand, pressure has been on the republicans. harry reid and nancy pelosi have their own members who do not want to get into a discussion of entitlement reform, do not want to reduce pay outs for medicare and social security and went taxes raised so they continue the upward trend of spending which is at the center of the spending discussions so i think what we can see is push back on the democratic side and the can being in center field being kicked over the six week extension. connell: i want rich to explain to is indeed what your reporting turned out to be right and we do see this extension to the twenty-second of november in terms of the debt ceiling being raised. the separate issue dan talks about with the government being shut down and these are two separate issues does it make more likely the government's they shed down or the government shutdown lasts longer? >> absolutely. wha
reform meaning a new tax system with lower tax rates. on the democratic side they have been quiet up to now because it has been going their way to show their hand, pressure has been on the republicans. harry reid and nancy pelosi have their own members who do not want to get into a discussion of entitlement reform, do not want to reduce pay outs for medicare and social security and went taxes raised so they continue the upward trend of spending which is at the center of the spending discussions...
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tax rates will go up some. yes. definitely for some people who make more than 400,000. i think that they will get a deal and the problem is that obama and the democrats, if they give us what everyone calls the way they index social security, that is a big one for democrats. it makes them less likely to agree to any concessions in terms of additional infrastructure. extending that unemployment benefits, there will have to be some meeting of the minds. dagen: to you think that the democrats will agree with what the president has put on the table. >> one of the key things we have seen is, i think there has been a shift in political psychology, if you will. i think people want a deal. they want a deal badly. right now the details are becoming less important. stabilizing this very fragile recovery, not creating a situation where people have a sense there is more uncertainty. they realized the private sector has complained about uncertainty over the course of the last two to three years. that is why they are now putt
tax rates will go up some. yes. definitely for some people who make more than 400,000. i think that they will get a deal and the problem is that obama and the democrats, if they give us what everyone calls the way they index social security, that is a big one for democrats. it makes them less likely to agree to any concessions in terms of additional infrastructure. extending that unemployment benefits, there will have to be some meeting of the minds. dagen: to you think that the democrats will...
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rates, which are tax rates we haven't seen since the year 2000, clinton era tax rates until february 15th. in that respect you do have a little bit of time to work things out. but on top of that you also got the debt ceiling coming. there are only $200 billion worth of spending room left according to the treasury department. so all of these issues are coming into play here. there are a number of lawmakers who want to get this out of the way. they don't want to be responsible for a major tax hike which already has happened. they want to get this done and move on. there are still republicans who say you have to have spending cuts in this deal. we're not tired of not having enough spending cuts. the deficit is still too much of a problem. >> a lot of deadlines in play. they don't seem to be speeding things up rich, so far. we're so glad you're there keeping track of this for us. >> thanks, diane. >> that is the latest on the fiscal cliff negotiations in washington. we'll be back at top of the hour or break in anytime if we get more news. fox business will have live coverage tomorrow mor
rates, which are tax rates we haven't seen since the year 2000, clinton era tax rates until february 15th. in that respect you do have a little bit of time to work things out. but on top of that you also got the debt ceiling coming. there are only $200 billion worth of spending room left according to the treasury department. so all of these issues are coming into play here. there are a number of lawmakers who want to get this out of the way. they don't want to be responsible for a major tax...
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tax rates railroad increased up and down the, basically every tax bracket revoted to the clinton era rates. they have all gone up. at this point vote for the tax cut, get out of here, come back on january 3rd and use the debt ceiling to extract cuts from democrats that try to the if us to some sort of fiscal sanity here. >> then two months from now we deal with the spending cuts as well as the debt ceiling. they're at least keeping us, you know, employed here, rich. they're giving us plenty of things it talk about. >> yes. 2013 will seem to be a busy year in washington as the last five years have been. >> rich edson live from d.c. always great talking to you. >> thanks, diane. >> that is the latest everybody on the fiscal cliff negotiations in washington. we'll be back at top of the hour or as usual break in at any time if we continue to get news. don't forget fox business will be live tomorrow morning a 5:00 a.m. for special coverage as markets react to all of this. i'm diane macedo. here is your regular programing. >> this has been a fox business special report. we now return you t
tax rates railroad increased up and down the, basically every tax bracket revoted to the clinton era rates. they have all gone up. at this point vote for the tax cut, get out of here, come back on january 3rd and use the debt ceiling to extract cuts from democrats that try to the if us to some sort of fiscal sanity here. >> then two months from now we deal with the spending cuts as well as the debt ceiling. they're at least keeping us, you know, employed here, rich. they're giving us...
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as we all know, the medical device tax is crushing businesses. eighty senators already want to get rid of it. there arehanges that absolutely positively need to be made. neil: but they're not doing it. it's close. now they can't do it, now they're not even entertaining one adjustmt for. that is kind of weird. >> listen, you need to people that tango perry gave to sit down a room and hammer things out. the fact that the president is not even negotiating to the democrats are not coming to the table. dog and pony show with the republican showing up and no one across from him. everyone is to start acting like adults. they need to solve the people's busine. that is what people send their leaders there do, get together and come up with common-sense solutions. that is with tip o'neill and ronald reagan did. neil: and nell. polls mean nothing, but the sentiment right now is that republicans are getting certainly the shorter end of the pr stick with this. you know, do you think that is a worry and that it is going to affect the midterm elections? will we
as we all know, the medical device tax is crushing businesses. eighty senators already want to get rid of it. there arehanges that absolutely positively need to be made. neil: but they're not doing it. it's close. now they can't do it, now they're not even entertaining one adjustmt for. that is kind of weird. >> listen, you need to people that tango perry gave to sit down a room and hammer things out. the fact that the president is not even negotiating to the democrats are not coming to...
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a tax on tobacco at federal level. that would go in part to pay for spending on increased preschool. the white house says its budget barely reduces the deficit. >> if you asked everyone to chip in, if you asked the very wealthy and well-connected, to contribute by eliminating their special tax provisions and loopholes from the tax code, you can put forward a plan that exceeds the goal of $4 trillion in deficit reduction over 10 years. >> you could tax all high income earners in america down it zero and we would still have not only a deficit in the next 10 years but we would still have this fundamental debt explosion. >> david, we've only gotten a few of the details this morning. the president's full budget is duty due out on wednesday. back to you. david: thank you very much, rich edson at the white house. mortgage rates continue to decline hovering new historic lows but is that actually translating into more people taking out loans and buying homes? we have a real look at the state of lending with the founder and ceo
a tax on tobacco at federal level. that would go in part to pay for spending on increased preschool. the white house says its budget barely reduces the deficit. >> if you asked everyone to chip in, if you asked the very wealthy and well-connected, to contribute by eliminating their special tax provisions and loopholes from the tax code, you can put forward a plan that exceeds the goal of $4 trillion in deficit reduction over 10 years. >> you could tax all high income earners in...
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let people do peer-to-peer, i get in anyone's car and tax everybody with a car and drive that up? >> as long on insurance side, liability side is taken care of. that is absolute must. in new york, we don't have that yet, that form of uber. we need some licensing and some extent regulation of the taxi industry. adam: don't go anywhere. coming up, big change at the top for embattled airbag maker takata. will it be enough to inflate their problems? >>> are you ready for some football. rich edson is. social networking site strikes a deal with the nf. we'll look what it means for facebook as it tries to keep its younger demographic from heading to the hills. >>> can you guess which stock was the favorite among retail investors this year? we'll have the answer coming up in a bit. >> okay, people, tomorrow morning 8:00 a.m., santa is coming to town. [screaming] >> oh, my god! santa here? i know him. i know him. thanks. ♪ [ male announcer ] fedex® has solutions to able global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪ cut it out. >>see you
let people do peer-to-peer, i get in anyone's car and tax everybody with a car and drive that up? >> as long on insurance side, liability side is taken care of. that is absolute must. in new york, we don't have that yet, that form of uber. we need some licensing and some extent regulation of the taxi industry. adam: don't go anywhere. coming up, big change at the top for embattled airbag maker takata. will it be enough to inflate their problems? >>> are you ready for some...
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the idea tax year at third everything. there was no question that it was shooting. it was not fireworks are bottle worked. >> and you see every teen state of alertness. it's kind of almost a joke. you're always on some sense of someone lisa baggage you can get a spot on the spot. you can tell immediately that this was something that was wrong. you're talking earlier. just want to confirm the suspect was a woman and had a child in the car. >> the woman has been killed. we don't know the status of the child. one capitol police officer has been injured in part of the car chase. the market was already down today. >> and just about to 16:00 p.m. we were at a level of 15,030. within ten minutes we dropped about 50 points. fifty cuestas and some like a big deal. it was traumatic. you do see a dramatic drop. traders on wall street heard about the shooting or their the capitol originally believing that it was in sight to later find another was outside. there were the first to even come up with the idea. there were the first was to tell me that they heard that there may be a
the idea tax year at third everything. there was no question that it was shooting. it was not fireworks are bottle worked. >> and you see every teen state of alertness. it's kind of almost a joke. you're always on some sense of someone lisa baggage you can get a spot on the spot. you can tell immediately that this was something that was wrong. you're talking earlier. just want to confirm the suspect was a woman and had a child in the car. >> the woman has been killed. we don't know...
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this is his principles for tax reform from his budget in 2011. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. again, that is the compromise we're all looking for, quickly. >> well it is absolutely but let me take you back to where you started. that is we have the big increases in spending that seem to be in the budget right now. that is where really the other side on this debate wants to go. increase spending. they need increased revenues. why not go over the fiscal cliff where you get both of those? i think that's where we are headed, david, unfortunately. david: bill beach, director of heriiage foundation director of for analysis. good to see you again. liz: right before the holidays, citi cutting costs and 11,000 jobs with it. that number could go up even more. liz macdonald has all the breaking details exclusively here on fox business. but when i was in an accident... i was worried the health care syst spoke a language all its own with unitedhealthcare, i got he
this is his principles for tax reform from his budget in 2011. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. again, that is the compromise we're all looking for, quickly. >> well it is absolutely but let me take you back to where you started. that is we have the big increases in spending that seem to be in the budget right now. that is where really the other side on this debate wants to go....
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despite the fact taxes actually went up anyway, even though they refused to negotiate. they have gotten so stuff from us they wanted if they had been willing to engage in normal negotiations. so we have to stop repeating this pattern. i know the american people are tired of it. to all the american people, i apologize that you have to go through this stuff every three months, it seems like. lord knows i'm tired of it. but at some point we've got to kind of break these habits and get back to the point where everybody understands that in negotiations there is give and take. you do not hold people hostage or engage in ransom taking to get 100% of your way. you don't suggest that somehow a health care bill bill that you don't agree with is destroying the republican or grand socialist scheme. if you disagree with certain aspects of it, tell us what you disagree with and let's work on it. if you're concerned about long-term debt, that is a good thing to be concerned about but don't pretend as if america is going bankrupt anytime the deficit is cut in half. that is with the ame
despite the fact taxes actually went up anyway, even though they refused to negotiate. they have gotten so stuff from us they wanted if they had been willing to engage in normal negotiations. so we have to stop repeating this pattern. i know the american people are tired of it. to all the american people, i apologize that you have to go through this stuff every three months, it seems like. lord knows i'm tired of it. but at some point we've got to kind of break these habits and get back to the...
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it was all tax increases. $15 million in spending cuts. republicans have to get their acts together to negotiate better on the debt ceiling and other things. neil: what is the overture on the republican party? saying that they are going to push for a three-month extension? >> sure, what i read in it was from a pr standpoint in saying that gets all is a bad idea and will hurt the economy. and for economy a year and a half ago. republicans are saying that maybe it's a smart move in the sense that they want to say enough of this pr stunt. let's take the falls off the table but let's get to the real essence of spending cuts. the president is going to keep coming back. but it's more revenue. but it's more tax increases. we knew that in the campaign. neil: there is this paraphrase between the rich and the poor that you alluded to. maybe he has not done this. >> i don't think he is done on more tax increases. neil: more deductions? >> deductions and perhaps more rate hikes. this was alluded to during the fiscal cliff talks by various democratic l
it was all tax increases. $15 million in spending cuts. republicans have to get their acts together to negotiate better on the debt ceiling and other things. neil: what is the overture on the republican party? saying that they are going to push for a three-month extension? >> sure, what i read in it was from a pr standpoint in saying that gets all is a bad idea and will hurt the economy. and for economy a year and a half ago. republicans are saying that maybe it's a smart move in the...
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connell: the only time he ever dangle this is simultaneously demanded a trillion in new taxes. you haven't seen the willingness to negotiate at the white house. the current debate whether it is business or politics you always want to know when you look at both sides who has the leverage and i don't see where the republican leverage comes from on this debate or the next one. at some point there is nowhere to go. >> i hope at the end of this they hold on to the sequester. connell: would pick the debt ceiling and lead this one go. >> all at one price. i like the sequester a lot. would you trade with the sequester for some big long-term reform on medicare and social security? i don't know that he would. connell: trying to figure out how they put themselves in this spot. >> on the debt ceiling he does hate the sequestered so if they want to trade that, get something real in return. really cranking down. dagen: vast majority of spending in this country by the government is entitlements. dagen: said third jobs report, and the next guest, and get the september numbers at all. charlie s
connell: the only time he ever dangle this is simultaneously demanded a trillion in new taxes. you haven't seen the willingness to negotiate at the white house. the current debate whether it is business or politics you always want to know when you look at both sides who has the leverage and i don't see where the republican leverage comes from on this debate or the next one. at some point there is nowhere to go. >> i hope at the end of this they hold on to the sequester. connell: would...
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we can't tax anymore. if we tax anymore, we have the highest corporate tax rate. most people that the are running subchapter-s corporations, small businesses are now paying close to 50% if you're in a state like california, new york, you're paying more than 50% in tax. the top 5% pay over 50% of the income tax revenue in this country. this has to stop. the president has to stop this. and i don't think, i think he understands government. i don't think he understands that a vigorous government requires a vigorous private sector. the only way you will get a vigorous private sector if the government backs off and let's the dynamic energy of the private sector go forward. neil: he will be talking about not only bigger government but smarter government. government can do a lot of good. do you think government can? >> look, we don't need smarter government. we don't need more efficient government. we needless government. people in middle class and people in the lower classes they don't need more government, they need jobs. we need to create jobs. we need the economy to g
we can't tax anymore. if we tax anymore, we have the highest corporate tax rate. most people that the are running subchapter-s corporations, small businesses are now paying close to 50% if you're in a state like california, new york, you're paying more than 50% in tax. the top 5% pay over 50% of the income tax revenue in this country. this has to stop. the president has to stop this. and i don't think, i think he understands government. i don't think he understands that a vigorous government...
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Jan 19, 2021
01/21
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tax increases in the abstract. i think any, anything that is proposed should be focused on corporations and on high income individuals. reporter: she will likely be confirmed on thursday with bipartisan support, still, there was a lot of pushback today. >> do you agree that raising taxes while the economy is still recovering from the pandemic is a bad idea? >> senator, the focus right now is on providing relief and on helping families keep a roof over their head and food on the table and not on raising taxes. reporter: yellen was pressed over and over on the spending that she pledged. she pledged to be a voice for fiscal sanity in the administration but she adds that there is a but to that. she says we can afford to spend more money now because money is cheap with interest rates being low. yellen argues without a acting big there will be permanent scarring to the economy and when she says big, she means the $1.9 trillion relief package and then passing the next multitrillion dollar package that is a recovery packag
tax increases in the abstract. i think any, anything that is proposed should be focused on corporations and on high income individuals. reporter: she will likely be confirmed on thursday with bipartisan support, still, there was a lot of pushback today. >> do you agree that raising taxes while the economy is still recovering from the pandemic is a bad idea? >> senator, the focus right now is on providing relief and on helping families keep a roof over their head and food on the...
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a trump tax cut, payroll tax cut bad for workers. i can't wait to hear her answer that question. melissa: is steve mnuchin trying to sell payroll tax cut how high the income is and how many employees you have? that is a great sales pitch. is he actually saying that to people walking in the room? >> i don't think steve mnuchin is a great fan of this and the reason he's not, he said it in that clip that you just played, melissa, it takes time, you know to get the money into the hands of people, where if you give them $1200 they have got the cash right now but what he is missing this is now incentive. every extra hour works, goes back on the job they have extra incentive. every worker will look at their paycheck now, see 7% pay raise. the politics of is good. the policy is good. i'm here to tell i think we can turn this around. don't write off the payroll tax cut. there is a long way to go with negotiations. melissa: he is in treasury. i would think he knows what paychecks look like. that if you withhold less there is more in the end. i
a trump tax cut, payroll tax cut bad for workers. i can't wait to hear her answer that question. melissa: is steve mnuchin trying to sell payroll tax cut how high the income is and how many employees you have? that is a great sales pitch. is he actually saying that to people walking in the room? >> i don't think steve mnuchin is a great fan of this and the reason he's not, he said it in that clip that you just played, melissa, it takes time, you know to get the money into the hands of...
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i like the tax base. in areas like the bigger names because of solid revenue growth. look at the fundamentals, longer term. they are dominating in the south on space. i think that is an area that only continues to grow. i think that is -- those are the safer areas, this safer bet that economic with klein money. cheryl: that is interesting. we like to what stocks go up and down, but it does not feel very good when you see one of your top names. ask any investor. i want to ask you. you picked clorox and kellogg when you are on the show in april. under a little bit of pressure. i you telling people to wait or would you have them by now? >> again, our job is to buy things cheap. i don't think that story has changed nanette would use this opportunity on the down cycle to add exposure if you did not have it. if you already on the stock do not want to over with your position because their relative risk in the market. right now we are on a short-term sell signal, so the relative direction of the market for short-term for the next month to is potentially down. don't forget the
i like the tax base. in areas like the bigger names because of solid revenue growth. look at the fundamentals, longer term. they are dominating in the south on space. i think that is an area that only continues to grow. i think that is -- those are the safer areas, this safer bet that economic with klein money. cheryl: that is interesting. we like to what stocks go up and down, but it does not feel very good when you see one of your top names. ask any investor. i want to ask you. you picked...
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tracy: even for tax purposes? >> even for tax purposes. >> paul, thanks for coming up from the beltway and joining us in this fabulous, fabulous new york city day. thank you, sir. ashley: beltway bandits. there you go. that's a new one for us. >>> it is a little past quarter past the hour. time to check markets. nicole petallides done on the floor as always. you're checking a couple of big movers. >> checking a couple of big movers on some big stories. we're talking about the drug realm. we're talking about viva, the stork is soaring up 10.5%. isn't great to see a stock on the move with the dow down one pun points? cowan upgraded from outperform to a from a market perform. the weight-loss drug has good news there. on the other hand angie's list has slashed its prices in order to bring in a lot of new members. while the analysts say the pricing idea is a good one, what does that mean? doest mean they are just not getting members they hoped? they're certainly will not get as much revenue if they're lowering their pr
tracy: even for tax purposes? >> even for tax purposes. >> paul, thanks for coming up from the beltway and joining us in this fabulous, fabulous new york city day. thank you, sir. ashley: beltway bandits. there you go. that's a new one for us. >>> it is a little past quarter past the hour. time to check markets. nicole petallides done on the floor as always. you're checking a couple of big movers. >> checking a couple of big movers on some big stories. we're talking...